Diversified energy company Phillips 66 (NYSE: PSX) on Wednesday announced operating results for the fourth quarter of 2023, reporting a decline in adjusted earnings.
- Fourth-quarter profit came in at $1.3 billion or $2.86 per share, vs. $1.90 billion or $3.97 per share in Q4 2022
- Adjusted earnings decreased to $3.09 per share in Q4 from $4.00 per share in the prior-year quarter
- Phillips 66 ended the quarter with an impressive operating cash flow of $2.2 billion
- During the three months, the company returned $1.6 billion to shareholders through dividends and share repurchases
- Midstream pre-tax income was $756 million in the December quarter; Chemicals pre-tax income, on an adjusted basis, came in at $106 million
- The Refining segment registered a pre-tax income of $814 million in Q4; Marketing and Specialties pre-tax income was $432 million
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Broadcom (AVGO) reports higher Q3 revenue and profit; results beat estimates
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) reported higher revenues and adjusted earnings for the third quarter of 2024 amid continued strong demand. The Q3 numbers also topped expectations. Earnings, excluding
Key takeaways from Hewlett Packard’s (HPE) Q3 2024 earnings report
Hewlett Packard Enterprise (NYSE: HPE) has delivered stronger-than-expected third-quarter results amid significant conversion in AI system revenues. The prospects for the company's AI server and edge computing businesses look promising
Hormel Foods (HRL): Factors that put a damper on the food company’s Q3 performance
Shares of Hormel Foods Corporation (NYSE: HRL) were up over 2% on Thursday. The stock is recovering from a fall it took a day ago after the company delivered mixed
